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Stock Market & Financial Investment News

News Breaks
March 24, 2014
12:07 EDTGILD, AAPL, NUS, ISIS, P, UPS, ARWR, HLFOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following reports on the state of manufacturing in the U.S., China and the European Union. The Purchasing Managers' Indexes, or PMIs, showed that manufacturing activity contracted last month in China but that it had expanded again in the U.S. and the EU. ECONOMIC EVENTS: In the U.S., Markit's manufacturing PMI for March fell to 55.5 from February's 57.1 reading. The reading was 1 point below the consensus forecast, but was still strongly in expansionary territory, as 50 is the dividing line between expansion and contraction. In China, Markit's flash PMI came in at 48.1, falling short of expectations for a 48.7 reading. In Europe, the PMI for the euro area as a whole came in at 53.2, which was just below last month's 32-month high reading of 53.3. COMPANY NEWS: Shares of Nu Skin Enterprises (NUS) surged nearly 19% near midday after the company's China business was penalized only $540,000 for direct sales of certain products. Nu Skin said it is already taking steps to correct the issues raised in the AIC reviews and that it is not aware of any other material enforcement investigations currently pending in China. Research firm Deutsche Bank said it expects Nu Skin to announce a "significant" share repurchase program over the next several quarters after the China investigation was resolved with "modest" fines. Deutsche thinks today's news lifts an overhang on Nu Skin and keeps a Buy rating on the stock with a $110 price target. Meanwhile shares of Nu Skin's multi-level marketing peer Herbalife (HLF), which has also been accused of impropriety in China, are up about 8%. Herbalife had its own news this morning as well, as it announced that it has amended and restated its agreement with Carl Icahn and will nominate three new Icahn designees for election to the company’s board. MAJOR MOVERS: Among the notable gainers was MicroVision (MVIS), which jumped 20% after announcing that it has agreed to supply customized PicoP display modules to shipping giant UPS (UPS). Also higher was Symantec (SYMC), which rose 2% after research firm BMO Capital upgraded the stock and said it believes all strategic options, including a sale or divestiture of underperforming assets, will be considered following the company's recent termination of its CEO. Among the noteworthy losers was Arrowhead Research (ARWR), which dropped more than 15%. Research firm Piper Jaffray attributed the move lower to competitor ISIS Pharmaceuticals (ISIS) having announced preclinical data on its own antisense compound targeting hepatitis B virus, which is a clinical area that Arrowhead is also exploring. A number of other biotechnology companies' shares were also lower, with Oppenheimer attributing the continued weakness in the sector to investor concerns that were sparked by a letter sent Friday by several members of Congress to Gilead (GILD) regarding the price of its Hepatits C drug, Sovaldi. Also lower were shares of Internet radio company Pandora (P), which slid almost 9% after Billboard reported on Friday that Apple (AAPL) is considering launching a new music service and is also weighing a new iTunes app for Android smartphones. INDEXES: Near midday, the Dow was down 52.55, or 0.32%, to 16,250.22, the Nasdaq was down 66.01, or 1.54%, to 4,210.78, and the S&P 500 was down 12.25, or 0.66%, to 1,854.27.
News For NUS;HLF;P;AAPL;ARWR;ISIS;GILD;UPS From The Last 14 Days
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December 9, 2014
09:21 EDTAAPLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up 3.8%... Burlington Stores (BURL), up 3.3%. ALSO HIGHER: bluebird bio (BLUE), up 56.5% after price target raised at Piper Jaffray and SunTrust... Camtek (CAMT), up 6.7% after being awarded a $2.8M order from a semiconductor manufacturer... PDC Energy (PDCE), up 5.8% after providing fiscal 2015 production guidance... Mast Therapeutics (MSTX), up 3.1% after reporting that it will begin recruiting patients for MST-188 study in first half of fiscal 2015... Idera Pharmaceuticals (IDRA), up 1.4% after announcing data for its lead product candidate, IMO-8400. DOWN AFTER EARNINGS: UTi Worldwide (UTIW), down 10.8%... CONN'S (CONN), down 35.9% after reporting third quarter results, withdrawing fiscal 2015 guidance, stating that there is no timetable set for completion of strategic alternatives, and announcing the departure of its CFO. ALSO LOWER: Apple (AAPL), down 1.6% after Pacific Crest says that weak iPad demand could cause Apple to miss estimates and following a Wall Street Journal report that a judge denied Apple's efforts to throw out iPod pricing lawsuit... Allied Nevada Gold (ANV), down 30.1% after announcing pricing of common stock and warrant offering... United Continental (UAL), down 2.7% after reporting November traffic.
08:38 EDTGILDGilead price target raised to $130 from $110 at Argus
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08:03 EDTAAPLWeak iPad demand could cause Apple to miss estimates, says Pacific Crest
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07:46 EDTUPSUPS management to meet with UBS
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07:22 EDTPBMO Capital to hold a conference
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06:20 EDTAAPLJudge denies Apple's efforts to throw out iPod pricing suit, WSJ reports
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December 8, 2014
16:00 EDTAAPL, GILDOptions Update; December 8, 2014
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15:49 EDTNUSNu Skin to host investor day
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14:31 EDTNUSNu Skin December volatility elevated into investor day
Nu Skin December weekly call option implied volatility is at 84, December is at 56, January is at 50, March is at 52; compared to its 26-week average of 48 according to Track Data, suggesting large near term price movement into company hosted investor day on December 12.
13:16 EDTAAPLApple trades off session lows, levels to watch
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10:46 EDTPPandora calls active on renewed takeover speculation
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10:41 EDTISISIsis Pharmaceuticals price target raised to $81 from $62 at Piper Jaffray
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10:36 EDTPRumor: Pandora moves up on renewed takeover chatter
10:02 EDTGILDGilead presents follow-up data from Zydelig registrational studies
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08:11 EDTUPSUPS management to meet with UBS
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08:00 EDTISISIsis Pharmaceuticals price target raised to $66 from $55 at Stifel
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06:37 EDTAAPLApple rumored to be launching 4-inch iPhone in 2015, Times of India reports
Apple is rumored to be developing a new iPhone with a 4-inch display, The Times of India reports, citing a report from The Electronic Times of Taiwan. According to supply chain sources, the device will launch in 2H15. Reference Link
06:22 EDTAAPLApple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its field work indicated consumers are increasingly buying the higher memory iPhone 6 and 6+. Citi expects purchasing trends towards higher memory devices to drive stronger sales and margins. It believes consensus estimates are yet to factor in this development. The firm raised its price target for Apple shares to $135 from $120 and keeps a Buy rating on the name. Shares of phone maker closed Friday down 49c to $115.
06:15 EDTAAPLLenovo shipments expected to lead Samsung by 9M in 2015, DigiTimes reports
Lenovo (LNVGY) is estimated to beat Samsung (SSNLF) in mobile device shipments in 2015 by about 9M units, reports DigiTimes Research. Lenovo is set to beat Samsung by about 1M units in 2014 and become the second largest mobile computing device brand vendor worldwide behind Apple (AAPL). DigiTimes Research says Lenovo and Samsung plan to focus on maintaining tablet shipments as demand weakens in 2015. Reference Link
05:30 EDTISISIsis Pharmaceuticals to host conference call
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